PACIFIC WATCH

Indonesia

3 Joint Telecom Venture Planned: Nynex Corp. of New York and Japanese trading company Mitsui & Co. are planning to invest in the telecommunications venture, a Mitsui spokesman said. The companies will form a joint venture with Rajawari Group's Telekomindo subsidiary to lay a nationwide network of fiber-optic cable and provide mobile telephone service. As much as $1 billion will be invested in the project, the spokesman said. Japan's Nihon Keizai newspaper said Nynex will take a 23.1% stake in the venture. Mitsui will own 4.2%, with the remaining equity being shared by Telekomindo and other local concerns, the spokesman said.